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Imports & Exports of CN Private Enterprises Hike 8.9% YoY in 1H23, Rising to 52.7% of Total
The General Administration of Customs (GAC) introduced the import and export situation of China in the first half of 2023.Statistics show that in 1H23, the total value of import an...
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Imports & Exports of CN Private Enterprises Hike 8.9% YoY in 1H23, Rising to 52.7% of Total
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The General Administration of Customs (GAC) introduced the import and export situation of China in the first half of 2023.

Statistics show that in 1H23, the total value of import and export of goods trade for China amounted to RMB20.1 trillion, growing 2.1% YoY. Of which, exports elevated 3.7% YoY to RMB11.46 trillion, and imports decremented 0.1% YoY to RMB8.64 trillion.

In 1H23, the scale of China's foreign trade imports and exports exceeded RMB20 trillion for the first time in the same period in history, with RMB9.76 trillion and RMB10.34 trillion in 1Q and 2Q respectively, both of which achieved positive growth on a YoY basis. Imports and exports grew by 6% QoQ in the second quarter, and by 1.2% MoM in both May and June.

During the period, general trade imports and exports amounted to RMB13.16 trillion, representing a YoY growth of 4%. Imports and exports by private enterprises grew by 8.9%, raising their share of total imports and exports to 52.7%. Exports of the three new major types of products, including electric passenger vehicles, lithium batteries and solar cells, surged 61.6% and contributed to the overall export growth by 1.8 percentage points.

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